MY FIRST SUBJECT TO DEAL

[George Stoudemire]

Investment Info:

Single-family residence buy & hold investment in Pittsburgh.

Purchase price: $10,000
Cash invested: $10,000

This was one of my first subject to deals. We stick to a strategy of subject to - lease to own deals. We've acquired 13 properties using this strategy. The best part of this is we're helping people avert foreclosure and providing housing for people with poor or no credit histories.

What made you interested in investing in this type of deal?

This strategy works for us because we had little capital but a good network of wholesalers with low to no equity leads that we were able to convert to perfect subject to deals

How did you find this deal and how did you negotiate it?

We found this deal from a wholesaler

How did you finance this deal?

We paid cash for this deal.

How did you add value to the deal?

Well this deal was really just a matter of putting all the pieces together.

Lessons learned? Challenges?

Always have an attorney check your contracts.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I only worked with a lawyer